Korean President opens 5.5 million-TEU Pusan Newport terminal

Korean President opens 5.5 million-TEU Pusan Newport terminal    The Republic of Korea’s President, Roh Moo-Hyun, today officially opened the new 5.5-million-TEU Pusan Newport terminal complex.
   Pusan Newport Co, Ltd. is a joint venture owned by DP World, Samsung Corp., the Hanjin group, and Hyundai Engineering & Construction Co.
   The first phase of the terminal is now operational with three container berths, each 350 meters (1,148 feet) in length, with nine shore side gantry cranes. Three more berths will be operational in 2007 and the final three berths by mid-2009.
   On completion, the terminal will have a “conservative” estimated handling capacity of 5.5 million TEUs, featuring 3,200 meters (10,500 feet) of berth, 26 quay cranes, 81 yard gantries, 20 gate lanes and 10 rail tracks, with a storage yard occupying 125 hectares (309 acres).
   “DP World’s involvement in this project reflects our commitment to building long-term relationships with customers and with business partners, and our determination to invest in growth areas so that facilities and services are in place when our customers need them,” said Mohammed Sharaf, chief executive officer of Dubai state-owned DP World.
   DP World gained its stake in the Pusan Newport project when it acquired CSX World Terminals in February last year.